Tech Security Spending To Rise in Wake of Attacks

Now that
hacktivist group LulzSec is disbanding, shaken corporate and government tech
buyers will have to dole out even more to defend against profit-minded
cyberthieves and spies looking to swipe state and corporate secrets. LulzSec’s
recent hacking of underscore how hacktivists have shaped a new kind of threat.

Spending
on information technology security already is growing faster than spending on
general technology. And corporate and government tech buyers will have to dole
out even more to defend against profit-minded cyberthieves and spies looking to
swipe state and corporate secrets.

In
fact, global spending on security products and services is expected to reach
$71 billion by 2014, up from $55 billion today, according to Lawrence Pingree,
research director for Gartner.

The
recent hacking escapades of LulzSec underscore how hacktivists, motivated by
the desire to express an ideology, have shaped a new kind of threat that’s
gaining steam. 

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